First Time Home Buyers – Krista + Rosie, Realtorshttp://kristashouse.com
Hi friends! We are Krista + Rosie, the brains behind the Krista + Rosie Team. Powered by Abio Properties we are a top producing real estate team working {and having fun} in Berkeley, Oakland and the surrounding areas. From buying + selling to DIY + home decor to plumber + gardener recommendations we are your one-stop-shop for all things real estate.Mon, 02 Apr 2018 18:19:45 +0000en-UShourly1https://wordpress.org/?v=4.9.9311953237827 Sterling Offers Function and Flexibility for a Multitude of Lifestyleshttp://kristashouse.com/blog/2018/03/18/7827-sterling-offers-function-flexibility-multitude-lifestyles/
http://kristashouse.com/blog/2018/03/18/7827-sterling-offers-function-flexibility-multitude-lifestyles/#respondSun, 18 Mar 2018 17:16:25 +0000http://kristashouse.com/?p=3568Welcome to 7827 Sterling Drive, a charming home located on a peaceful street lined with trees in the King Estates neighborhood of Oakland. This home offers flexibility for a multitude of lifestyles. When we first met the Seller in the Summer of 2016 we were holding open another home a block away, on Greenly Drive. James […]

]]>Welcome to 7827 Sterling Drive, a charming home located on a peaceful street lined with trees in the King Estates neighborhood of Oakland. This home offers flexibility for a multitude of lifestyles.

When we first met the Seller in the Summer of 2016 we were holding open another home a block away, on Greenly Drive. James walked into our open house and mentioned he had a home located on the next block over that he and his wife had restored about 10 years ago. He and his family moved out of the area and have been renting it the past few years; his tenants had just moved out and he was preparing to paint it, and deciding whether he should sell or rent it.

After the open house we walked over to take a look.

We spent about 45 minutes walking through the house and discussing the Seller’s needs. It was a charming home, full of style, and it was clear they put a lot of sweat-equity, hard work, and care into the house. When they purchased the home it was a “handyman’s special” – according to the Seller that was an understatement. The floorplan was a little unusual and after spending the next four years stripping down walls to the studs, replacing holes in the roofs, pouring foundations, replacing tile, rehabbing rooms and re-working hallways they had a comfortable, functional home that they could entertain and grow their family in.

Before, 2004

After, 2018

The Seller’s wife handmade all of the decorative shutters the line the outside windows and picked a custom, artistic palette of paint for the interior. They completely re-built the back cottage so family had a comfortable place to stay while visiting. They had originally planned to turn the studio into a master bedroom but decided they wanted to keep it as a separate space.

After finishing the house they terraced the garden and planted vegetables, fruit trees, and bouganvilla. In the front yard they planted orange and plum trees and a tigerlily and magnolia; in the back is a mandarin and apricot tree. Rhubarb, which still happily grows, was harvested for rhubarb jam and tomatoes proudly grew. A tree swing was installed under that grand oak tree, and a gate was put in the back fence so the neighboring kids could easily play.

Time passed and although the Sellers loved their home they were relocated out of the area for work. They weren’t ready to let go of their prized home and decided to rent it. On a visit to the house in the Summer of 2016 James stopped into our open house and after talking it through with us thought that maybe the time was coming to sell the house.

Based on the market when we first met, James and his wife decided to paint it and continuing renting, it just didn’t feel like the right time. We set them up with a Seller’s search account through the MLS so they could stay on top of the market. We stayed in touch, and earlier this year they made the hard decision to sell. They had a terrific tenant and didn’t want to displace her, but ultimately the time had come.

We are proud to have been chosen to list this incredible home that has such a sweet history. The main house is 2 beds + 1 bath with hardwood floors, updated bath and a quaint living room that looks out onto the Oakland Hills. The spacious kitchen has been updated and opens to the backyard, perfect for year-round enjoyment + entertaining.

Exterior stairs lead to a large in-law with private entrance, full kitchen + ¾ bath– use it as an in-law, a studio, home office, or add interior access to create a beautiful master suite. Walk up the pathway through the terraced garden and you will find a second studio space with ¾ bath. This peaceful studio retreat features vaulted ceilings with exposed beams and overlooks the garden + hillside. The backyard is still a gardener’s delight and ready for new vision – fill the planter boxes with flowers or create an edible garden. There is a 1-car garage, plenty of storage, and space for your own workshop.

With so many options how would you use the space? Keep it as an investment property – it already has a great tenant – or purchase it to live in: live in the main house and rent the studio or keep it for yourself!

]]>http://kristashouse.com/blog/2018/03/18/7827-sterling-offers-function-flexibility-multitude-lifestyles/feed/03568Buying a Home as a Real Estate Agent: Unsolicited Advice for Buyers and their Agentshttp://kristashouse.com/blog/2018/01/09/buying-home-real-estate-agent-unsolicited-advice-buyers-agents/
http://kristashouse.com/blog/2018/01/09/buying-home-real-estate-agent-unsolicited-advice-buyers-agents/#respondTue, 09 Jan 2018 20:16:43 +0000http://kristashouse.com/?p=3532I’ve been a real estate for 5 years and this past July my husband and I had the opportunity to buy a home for ourselves. We had been renting for the past 10 years partly because of neighborhood issues and partly because of the recession. After years of saving and some serious luck we were […]

I’ve been a real estate for 5 years and this past July my husband and I had the opportunity to buy a home for ourselves. We had been renting for the past 10 years partly because of neighborhood issues and partly because of the recession. After years of saving and some serious luck we were finally in the position to purchase in the Bay Area – Oakland specifically. In the last five years, Krista and I have have helped over 100 families purchase or sell a home but being on client side of the transaction gave me some invaluable insights.

First a little bit about our experience and strategy. Like everyone else in the Bay Area, we had to get our financing figured out first. We got pre-approved with our lender and once we knew how much we could spend we were on the hunt. Our strategy at first was to go after houses on the open market like anyone else — we had a list of things we were looking for like bedroom count, indoor/outdoor living, neighborhoods we were willing to live in and a price limit. Being an agent, I thought this would be easy. Afterall I am already out touring houses for my clients and I have a successful track record of getting my clients into contract. Boy was I naive.

So happy to have a new home!

We quickly found that there were a lot of houses that would work for us and we started putting in offers. Just as I would advise my clients to do, we would offer 20-30% above the listed price, because that is where it would likely sell. We would painstakingly figure out if this was a house we could live in, what were the pros and cons and ultimately what each house was ‘worth’ to us, meaning what price we were willing to pay. Time and time again we got out-bid, 11 times to be exact. Clearly being an agent didn’t mean squat. We figured out very quickly that if we liked something that usually meant that a lot of other people liked it too. Moreover, most of those people were willing to outspend us. It was during this intense period of making offers (12 in total over a 3 month period) that I really began to understand and fully appreciate the stress that buyers go through when making a purchase.

We ultimately had to change our strategy – we were getting outbid over and over again. Several times the experience was so gut wrenching that I (the Realtor) was ready to throw in the towel. Heart broken and a little disillusioned, my husband and I both realized we needed to start thinking creatively (something that I am very good at helping my clients with). So we started to look for houses that had been sitting on the market longer than 14 days or ones that had fallen out of contract for some reason. The house we ended up getting was listed way above what we were willing to pay but the listing agent had it priced too high so it had been sitting for 40 days. The seller’s had to sell and even though we came in way below where they were listed, they had an incentive to sell to us (mainly, the fact that I didn’t take a commission to make the purchase and we were the only offer that had come in). As a result, our offer was accepted. Relief! We are in a neighborhood that we wanted to be in, the house is the size we were looking for, and even though it’s not perfect we still feel like we got a “deal” given how much we could spend. So like all other buyers we had to give some stuff up (there is no indoor/outdoor space) but we feel super lucky to actually have pulled off purchasing a home in Oakland.

Rosie, her 10 year old, and Boo the Cat, hanging in the new house.

So what did I learn? Some unsolicited advice for buyers:

1. Figure out what’s important to you in a home. For me it was sq footage, flow, location, etc AND I wasn’t going to be pay $1.2mil for a 1000 sq feet. For my husband it was not paying 50% more than the list price, outdoor space, and location. 2. Figure out how much you are comfortable paying and get comfortable thinking about how much a particular house is “worth” to you. Of course look at comps to get a sense of fair market value. In a market as hot as the Eastbay’s, it turns out there is always someone who has more money than you and who wants the house more than you so it’s important to know what price you are willing to walk away for each particular property. 4. Be patient – the right house WILL come along. Stick to your principles and work with your agent to change strategies if you need to. Be willing to move fast and make a decision quickly. 5. Getting into contract is the hard part, once you are in contract and going through the transaction (usually 20-30 days), things really get quite a bit easier. Of course it is stressful if you are getting a loan but be sure to stay abreast of where the loan making parties are in their process. It made me feel better to know when the appraisal had come in, when it was the underwriters, etc. Actually closing and buying the house is pretty anti-climatic. There are no balloons or fireworks. You get an email from your title rep (or your agent most of the time) saying you are on record- that’s it. We obviously didn’t have an agent show up with wine and keys but still I was surprised at how anti-climatic the close was.

Some unsolicited advice for agents (myself included): 1. Prep buyers for the the emotional nature of the process and help them clarify what is really important to them and what they are willing to nudge on. 2. Provide a more emotional support when an offer doesn’t get accepted. Stay positive and keep encouraging your buyers to make smart offers that are based on their principals (financial and otherwise). 3. Be creative and quick – stay on top of the market for those houses that go unnoticed or fall through the cracks for some reason. 3. Explain the purchasing process really clearly so buyers know what to expect, especially once the transaction is with the lender. Make sure they know where they are in the process and what is coming next. 4. Be the fireworks and balloons at the end of the transaction – this is a huge feat your buyers have accomplished – they should be celebrated.

On the first night in our house, we had ramen from a local ramen shop on the floor of our new kitchen and even though we still haven’t fully moved in – there are boxes everywhere- we couldn’t be happier.

]]>http://kristashouse.com/blog/2018/01/09/buying-home-real-estate-agent-unsolicited-advice-buyers-agents/feed/03532Peaceful Retreat in the Heart of Herculeshttp://kristashouse.com/blog/2017/09/27/beautiful-hercules-condo/
http://kristashouse.com/blog/2017/09/27/beautiful-hercules-condo/#respondWed, 27 Sep 2017 19:00:00 +0000http://kristashouse.com/?p=3498Affordable housing in the East Bay? We’ve got it covered! Our newest listing, centrally located in the heart of Hercules, exudes charm, character, and serenity. Welcome to 708 Forest Run, a peaceful retreat tucked amidst a wooded, park-like setting in the heart of Hercules. Located on the top floor at the end of a 4 […]

]]>Affordable housing in the East Bay? We’ve got it covered! Our newest listing, centrally located in the heart of Hercules, exudes charm, character, and serenity. Welcome to 708 Forest Run, a peaceful retreat tucked amidst a wooded, park-like setting in the heart of Hercules. Located on the top floor at the end of a 4 unit building, you’ll love this private and serene home.

Built in 1990, this chic 2 bedroom, 2 bath home has been tastefully updated to enhance modern-day living. With vaulted ceilings and large, dual-pane windows light shines in from all directions. The living room and stylish dining room are perfect for hosting friends and family; the sunny kitchen features a new stove, updated countertops and a garden window that looks out into the trees. The spacious master bedroom features vaulted ceilings, new carpet and two large closets with custom closet organization shelving. Fresh paint, updated floors, and in-unit laundry make this home move-in ready.

Off the dining room is access to a sunny balcony framed by wooded trees. Leave the door open to create easy indoor-outdoor entertaining or simply allow the breeze to blow through. This unit is one of 8 units that feature its own driveway leading to a private garage.

The complex is set in an enchanting eucalyptus grove and provides a cozy retreat from the daily routine. There is a community pool and hot tub, perfect for relaxing in the afternoon. The neighbors are friendly and greet each other with hello; the community is active and you will often see people walking their dogs, jogging or pushing strollers along Village Parkway Circle, a perfect 2 mile loop. The clubhouse is ideal for small meetings.

The location is simply ideal: the building itself is its own private oasis but within minutes of incredible shopping, top-rated restaurants, and public transportation. Shop at Sprouts and Trader Joe’s, dine in at Hunan Villa or grab some chicken wing from Mountain Mikes. Looking for things to do at night? Listen to live music at East Bay Coffee and grab a cocktail from Pear Street Bistro. Commute to work? Casual carpool and the SF Express Lynx bus are around the corner. And you can’t beat the near-perfect weather year round.

Whether you are looking for a space to host friends and family, a peaceful retreat to come home and unwind, or a community-focused lifestyle to raise a family, this home has it all.

Oh, and the best part? This stunning home is listed at $315,000. You read it right.

]]>http://kristashouse.com/blog/2017/09/27/beautiful-hercules-condo/feed/03498How I Brought NYC Homehttp://kristashouse.com/blog/2017/01/30/how-to-bring-a-little-nyc-to-your-own-home/
http://kristashouse.com/blog/2017/01/30/how-to-bring-a-little-nyc-to-your-own-home/#respondTue, 31 Jan 2017 04:05:15 +0000http://kristashouse.com/?p=3388So I just came back from NYC where I was attending the Inman Connect, a real estate conference where Realtors from all over the country meet for 5 days to talk technology, how to build a better business, and of course, real estate. I love going to the event because I make some amazing connections […]

So I just came back from NYC where I was attending the Inman Connect, a real estate conference where Realtors from all over the country meet for 5 days to talk technology, how to build a better business, and of course, real estate. I love going to the event because I make some amazing connections and learn a lot of great tools, all while being surrounded by the greatness of NYC. (During the summer the event is in SF, but since I live in SF that conference doesn’t seem as glamorous.)

You all know I love food, so of course I was constantly scouting out the best eats in food, coffee and dessert. During a much needed coffee break I took a stroll up 8th Avenue, on my way to Bibble and Sip, where I was going to try out their infamous lavender latte. I thought that if this latte really was the hit I hear it is, I could learn to make it and offer up guests at my house, something fun and different, and easy to make!

While strolling up 8th Avenue I passed a restaurant called Thalia. I didn’t eat there, but outside they had the coolest light display. They had strung lights, the kind you see everywhere, but strung them 4-in-a-row along the outside of the restaurant. And that got me thinking…what a cool idea for someone to do with those old clotheslines you often see in the backyards of many of our homes!

Coolest clothesline!

While meandering through Greenwich Village on our day off we happened upon a deliciously sexy olive oil shop called O&Co. They had the most amazing chandelier made out of little bottles of olive oil…so cool! And I thought: what a fun way to display a collection of shot glasses or tea cups.

Try the garlic olive oil!

One of my FAVORITE places in Times Square is, well, central Times Square! It isn’t just the energy, but the red tables. Oh how I LOVE the red tables! If you are looking for a fun way to add some color and energy to your own backyard consider getting a brightly colored table and chairs, like the Fermob ones found at The Wooden Duck in Berkeley.

Fermob! Fermob!

Having a party with kids? Do as Momofuko does and make a cookie with cereal!! Some of the most creative cookies come out of this bakery, and I have tried them all!

cereal cookie!

Lastly, the best way to bring a little NYC into your home? Think outside of the box with color! Add a little color to spice up a room – ever thought of putting purple, charcoal and orange together? Check out these painted brownstones I spotted near Washington Square Park! Or mix and match the chairs around your dining room table to mimic the seats on the NYC Subway.

Hubba hubba color!

Clean and bold subway

Ah NYC, how I love thee! Some leave their heart in SF, but I left mine in NYC.

]]>http://kristashouse.com/blog/2017/01/30/how-to-bring-a-little-nyc-to-your-own-home/feed/03388What Kind of Market is THIShttp://kristashouse.com/blog/2017/01/13/what-kind-of-market-is-this/
http://kristashouse.com/blog/2017/01/13/what-kind-of-market-is-this/#respondFri, 13 Jan 2017 20:51:38 +0000http://kristashouse.com/?p=3380Multiple offers, oh my! No contingencies, oh my! As long as you aren’t in Berkeley, Albany or Oakland, then it might be considered normal. Normal is defined as a market where buyers and sellers have equal bargaining power. Yah right, not here! But all joking aside, even in these very competitive markets we are starting […]

Multiple offers, oh my! No contingencies, oh my! As long as you aren’t in Berkeley, Albany or Oakland, then it might be considered normal. Normal is defined as a market where buyers and sellers have equal bargaining power. Yah right, not here! But all joking aside, even in these very competitive markets we are starting to see some normalcy. Indeed there are opportunities for buyers to actually inspect and negotiate. Many buyers who purchased during the 2004-2006 boom are now seeing that they have some equity and might be able to finally move up.

According to Zillow Berkeley confirms that we have a healthy market:

Rental prices are starting to drop. A little.

And prices in 2017 are not expected to change much.

So it does seem that we are entering a more normal market. What do you think?

]]>http://kristashouse.com/blog/2017/01/13/what-kind-of-market-is-this/feed/03380Our Holiday Cardhttp://kristashouse.com/blog/2016/12/22/our-holiday-card/
http://kristashouse.com/blog/2016/12/22/our-holiday-card/#respondThu, 22 Dec 2016 20:16:38 +0000http://kristashouse.com/?p=3374The Krista + Rosie team had such a blast this past year, in part due to all of the awesome people we helped out this year. We are truly blessed to live her, play here, and work here. Want to be on our mailing list too? Drop us a line and we can send you […]

]]>The Krista + Rosie team had such a blast this past year, in part due to all of the awesome people we helped out this year. We are truly blessed to live her, play here, and work here. Want to be on our mailing list too? Drop us a line and we can send you a card.

]]>http://kristashouse.com/blog/2016/12/22/our-holiday-card/feed/03374Bart vs. Bus: How Living Outside of the BART Zone Will Cost you Lesshttp://kristashouse.com/blog/2016/11/13/bart-vs-bus-how-living-outside-of-the-bart-zone-will-cost-you-less/
http://kristashouse.com/blog/2016/11/13/bart-vs-bus-how-living-outside-of-the-bart-zone-will-cost-you-less/#respondSun, 13 Nov 2016 20:17:13 +0000http://kristashouse.com/?p=3377Did you know that if you live outside of a designated BART zone that you will not only pay less for your home but you will likely miss the feeding frenzy of multiple offers? The average home in the area around the North Berkeley BART station is selling for 130% over list price and in […]

Did you know that if you live outside of a designated BART zone that you will not only pay less for your home but you will likely miss the feeding frenzy of multiple offers?

The average home in the area around the North Berkeley BART station is selling for 130% over list price and in some cases as high as 170%. For a better value with more square feet, consider Kensington. From Kensington’s Arlington Avenue, you can pick up the AC Transit bus to San Francisco for a 45 min to an hour commute for $4.25 each way.

]]>http://kristashouse.com/blog/2016/11/13/bart-vs-bus-how-living-outside-of-the-bart-zone-will-cost-you-less/feed/03377The $1 Listinghttp://kristashouse.com/blog/2016/10/17/the-1-listing/
http://kristashouse.com/blog/2016/10/17/the-1-listing/#respondMon, 17 Oct 2016 21:50:38 +0000http://kristashouse.com/?p=3353So there is a new listing that just hit the market located 927 33rd St. in Oakland. Listed with Keller Williams San Carlos this new listing is creating a lot of fuss. Why? Because it is listed for only $1. Yes, $1. The agent notes the following: “Very Creative Seller, Very Savvy and seller has high […]

]]>So there is a new listing that just hit the market located 927 33rd St. in Oakland. Listed with Keller Williams San Carlos this new listing is creating a lot of fuss. Why? Because it is listed for only $1. Yes, $1.

The agent notes the following: “Very Creative Seller, Very Savvy and seller has high knowledge about Real Estate. Seller has right to refuse or accept any offer.”

Is this for real? Yes it is.

There is a big discussion happening amongst the real estate community on a particular facebook thread. Here are some of the highlights:

“This has created a true auction”

“This breaks the agent’s obligation to fair and honest dealings with the other side”

“This makes agents look like baboons”

“I have a client on a tight budget who would happily pay 100% above the listed price”

“It is an invitation for a lot of angry agents and buyers to step forward”

“I have to admit, I secretly always wanted to try this and see what would happen”

“REALTORS® shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations.”

“For the sake of discussion, how is this any different than the all-too-common $699k listing in a $1M neighborhood?”

About 35 comments into the thread the owner of the property chimes in. “Hi all, interesting reactions here. As the long-time investor who’s listing the house, I’d like to clarify a few things: I’ve had a longstanding relationship with this agent, and she is being made whole financially, regardless of the final sales price. As many people have speculated, this is indeed like an auction. Whatever offers come in, the highest one will purchase the house, simple as that. You’ll notice that there’s no “we’re not setting a price, it’ll be like an auction” option on the MLS, so a $1 listing it is. On Sunday we had a great turnout and some good offers in already (!!!), so we’re quite satisfied with how it’s gone. You can either take advantage of the hype that something like this generates, or not use it and let it stay that much more powerful for other real estate professionals. The choice is yours. It’s not something to use on every listing, but it’s been great so far for me. If you want to know how it plays out in the end, I’ll post the results on Facebook.”

Super interesting stuff here. I don’t actually have a problem with it. It is a marketing strategy that is clearing garnering A LOT of interest. The agent is getting a lot of exposure and the property is getting a lot of exposure – doesn’t that make for a successful marketing plan? The Seller is an investor which means that if he/she has a good product, and a lot of eyes are on it, other buyers may seek out his listings.

I absolutely do not like our current strategy of “list low, get a lot of offers, sell high.” I wish that we would get back to the good ol’ days where we would list at a price the Seller’s would take. But until then, list it for $1 or $100. The only people truly affected are those buyers who won’t see it because it didn’t pop up on their search. This house will sell in the mid-$600’s so if their search is set to a minimum of $500,000 they will never see it. But will it matter? We will know in a few weeks.

]]>http://kristashouse.com/blog/2016/10/17/the-1-listing/feed/03353To Remove Contingencies, or Not to Remove?http://kristashouse.com/blog/2016/09/12/to-remove-contingencies-or-not-to-remove/
http://kristashouse.com/blog/2016/09/12/to-remove-contingencies-or-not-to-remove/#respondMon, 12 Sep 2016 20:45:22 +0000http://kristashouse.com/?p=3331Should you remove your contingencies? We get asked this question all of the time. We cannot give you advice as to what you have to do, but we do want to demystify what this is all about. When a buyer submits an offer on a property they have an opportunity to include certain conditions within […]

Should you remove your contingencies? We get asked this question all of the time. We cannot give you advice as to what you have to do, but we do want to demystify what this is all about.

When a buyer submits an offer on a property they have an opportunity to include certain conditions within the contract that must be met in order to complete the purchase. Should these conditions not be met to their satisfaction within the agreed-upon timeframe listed in the contract, the contingencies set forth within the contract would allow them to back out of the contract without any financial obligation.

There are three main contingencies within the contract: inspection, appraisal, and financing. There are additional contingencies, but these are the primary ones that seem to be of interest in our current market.

Inspection. This is the timeframe you have to do your due diligence including inspections, review disclosures, check permits, etc. At the end of the designated timeframe you may have the opportunity to renegotiate with the seller or back out. However in our market, this is the number one contingency that most buyers will remove. In 2012 the market changed rapidly and buyers needed a way to make their offer stand out – and thus entered the Pre-Inspection to the marketplace. Buyers quickly realized that if they invested a little time {and money} prior to submitting an offer, and did all of their due-diligence upfront, they could comfortably remove this contingency. And those offers were favored by Sellers. Fast forward a few years and most Sellers are now doing the inspections upfront so that all buyers can be on more of a level playing-field and have an opportunity to comfortably remove their contingency.Should you remove this contingency? We have seen enough disclosure packets to know whether the Seller has provided enough information that SOME Buyers will feel comfortable removing the contingency. Should you want to remove this contingency we will guide you through the disclosures so that you can do your upfront due-diligence. Once you have all of the information you can then make the right decision for you. If you need to have this contingency then consider keeping it short, 3-5 days.

Appraisal. The appraisal contingency allows you to renegotiate {or back out from} the deal if the appraisal comes back less than the purchase price. If you are obtaining a loan the lender will require an appraisal. Although the loan and appraisal are interconnected they are independent contingencies. For a conventional loan a lender will only lend on 80% of the value so if the value comes in at less than 80% of the purchase price you will either need to increase your downpayment, ask the seller to reduce the price, or cancel the contract. If you do not have this contingency then your only option is to bring in additional money towards the down payment.Buyers started removing this contingency a couple of years ago and has now become commonplace. We always want to cross-check the recent sales to determine what the appraised value might be. Waiving this contingency will make your offer stronger so if it seems likely that the property would appraise at your purchase price we will then have you consult the loan officer to talk about your options for increasing the downpayment in the event the property doesn’t appraise. In certain cases we may ask the loan officer to take a look at the property to see if there might be any reason a lender would not lend. Not comfortable removing this contingency, or trying to keep your downpayment low? Consider offering the seller a certain dollar amount that you are willing to come up with in the event it doesn’t appraise.

Financing. The financing contingency states that you will be able to secure a loan within a certain number of days and protects you in case something goes wrong. If you are paying cash you will certainly remove this contingency. If you are getting a loan this is one of the riskier ones to remove – if you are unable to secure a loan for any reason you will still be legally obligated to move forward with the purchase. Unfortunately, buyers have started to remove this contingency as well. Why? To compete with cash offers. Some banks and direct lenders have stepped up the pre-approval process to where your pre-approval is fully underwritten subject to a purchase contract, appraisal, and title report. This is as good as it gets with the pre-approval. If you want to remove this contingency then make sure your pre-approval is underwritten as far as it can be, or that you have other financial means to close the sale.

Because all offers are different please make sure you speak to your Agent to see what is the right direction for your offer. And keep in mind we are not attorney’s and cannot tell you what to do. But we will tell you what a competing offer might look like, and then help educate you so that you can make the best decision for you.